Thrive Charter School a Nj Nonprofit Corporation
Nonprofit profile at a glance
- EIN
- 992992857
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Hamilton, NJ, USA
- Phone
- 7327183396
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $10,532,341
- Expenses
- $6,728,852
- Assets
- $5,972,214
- Liabilities
- $2,168,725
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- SHERIKA SALMON (BOARD PRESIDENT)
Highest reported compensation
- DR LAUREN BRAZIL (HEAD OF SCHOOL): $70,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of Thrive Charter School is to empower students with knowledge, critical thinking skills, and a sense of civic responsibility, fostering their growth into confident, compassionate, and capable individuals prepared to thrive in a diverse and ever-changing world.
What it reported doing in 2024
Thrive Charter School's program service accomplishments are reflected in its high academic standards and student support services, which have led to measurable gains in student achievement, especially in reading and math. Accomplishments include preparing students for college with diverse offerings like AP and honors courses, supporting students with disabilities, and fostering a strong sense of community between students and families.
Operating model
- Revenue model
- Grant-funded. 98% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 90
- Accountability: 26
- Sustainability: 66
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 51.9%; rating input score 52
- Program expense ratio: 83.2%; rating input score 83
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Fail
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 36.1%; rating input score 90; 90th percentile among comparable filings
- Total-asset coverage ratio: 0.89; rating input score 32; 32nd percentile among comparable filings
- Liabilities to assets ratio: 0.36; rating input score 40; 40th percentile among comparable filings
- Officer compensation ratio: 1%; rating input score 85; 85th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 51.9% of revenue deployed · 83.2% of spending went to programs
- Governance: 0 of 11 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $5.6M in reported program spending
- Leadership: top reported pay $70K · 11 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 4 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Financial Efficiency: Mission deployment rate scored 52/100.
- High — Accountability: Independent voting board scored 0/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 40/100.